Nike, Inc. : Continuation of the bullish trend
Entry price | Target | Stop-loss | Potential |
---|
$85.18 |
$0 |
$82.6 |
-100% |
---|
Nike trading in a bullish trend and several arguments are in favor of the continuation of this trend.
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus has recently revised upward EPS estimates of the company for the current year. The great business predictability emphasize the quality of this investment in the mid-term with moreover growth expectations for the next years.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages in all time scales. After a breakout of the upper band of a bullish channel, the stock is doing a pullback, which gives an entry point for investors.
Thanks to these good indicators, it seems relevant to take a long position in Nike at the current price (above USD 84). The target price will be the USD 90.3 resistance. In order to protect the trade, a stop-loss order will be set at USD 82.6.
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener.com. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.